Party City Announces Second Quarter 2019 Financial Results
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Party City (PRTY) Misses Q2 EPS by 14c, Revenues Miss; Offers FY19 EPS/Revenue Guidance Below Consensus
August 8, 2019 7:11 AM EDTParty City (NYSE: PRTY) reported Q2 EPS of $0.22, $0.14 worse than the analyst estimate of $0.36. Revenue for the quarter came in at $563.9 million versus the consensus estimate of $572.14 million.
Second Quarter Summary:
Total revenues increased 0.5% on a reported basis to $563.9 million and 1.2% on a constant currency basis.Retail sales increased 2.9% on a reported basis (3.2% on a constant currency basis), driven primarily by year over year square footage growth from store acquisitions that took place over the last 12 months.Brand comparable sales decreased 2.1% during the second quarter due to approximately 200 basis... More